And that is to not repeat the same mistake that Japan did when they signed the Plaza Accord in 1985
Former BOJ deputy govern Kazumasa Iwata was speaking during a panel session at the Boao Forum and said that China may want to rethink any stance it takes against the US if it were to involve the Chinese yuan in order to diffuse trade tensions.
Iwata summarised the impact of the Plaza Accord on Japan as "unfortunate" - as it led to a weakening of the US dollar and the Japanese yen strengthened far more than what policy makers in Japan would have liked, hurting exporters in the country.
